Sequoia Financial Advisors LLC purchased a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,744 shares of the industrial products company’s stock, valued at approximately $216,000.
Several other large investors also recently made changes to their positions in the company. QCI Asset Management Inc. NY grew its stake in shares of Deere & by 18.8% in the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 150 shares during the last quarter. Guardian Life Insurance Co. of America grew its stake in shares of Deere & by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 16 shares during the last quarter. Arrow Financial Corp grew its stake in shares of Deere & by 5.2% in the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 50 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Deere & by 26.2% in the first quarter. MCF Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 241 shares during the last quarter. Finally, Endurance Wealth Management Inc. grew its stake in shares of Deere & by 2.2% in the first quarter. Endurance Wealth Management Inc. now owns 1,404 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.
Several analysts recently weighed in on DE shares. ValuEngine raised shares of Deere & from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and issued a $125.00 price objective on shares of Deere & in a research note on Wednesday, August 9th. Deutsche Bank AG reissued a “hold” rating and issued a $139.00 price objective (up previously from $135.00) on shares of Deere & in a research note on Friday, August 11th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Deere & in a research note on Sunday, August 20th. Finally, Credit Suisse Group cut shares of Deere & from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have assigned a buy rating to the company’s stock. Deere & presently has a consensus rating of “Hold” and a consensus price target of $127.58.
In related news, insider Pentz Markwart Von sold 46,457 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $116.74, for a total transaction of $5,423,390.18. Following the sale, the insider now owns 47,165 shares of the company’s stock, valued at $5,506,042.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jean H. Gilles sold 12,361 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $129.90, for a total transaction of $1,605,693.90. Following the sale, the insider now directly owns 74,981 shares in the company, valued at approximately $9,740,031.90. The disclosure for this sale can be found here. Insiders have sold 93,928 shares of company stock worth $11,379,013 in the last three months. 0.85% of the stock is currently owned by insiders.
Deere & Company (NYSE DE) opened at 123.95 on Thursday. Deere & Company has a 52-week low of $82.33 and a 52-week high of $132.50. The stock’s 50 day moving average is $121.41 and its 200-day moving average is $118.58. The company has a market cap of $39.82 billion, a PE ratio of 20.59 and a beta of 0.70. Deere & also was the target of unusually large options trading activity on Monday. Traders bought 731 call options on the stock. This is an increase of approximately 255% compared to the typical daily volume of 206 call options.
Deere & (NYSE:DE) last posted its quarterly earnings data on Friday, August 18th. The industrial products company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.93 by $0.04. Deere & had a net margin of 6.81% and a return on equity of 25.96%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Deere &’s quarterly revenue was up 16.6% on a year-over-year basis. Equities research analysts predict that Deere & Company will post $6.52 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, September 29th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, September 28th. Deere &’s payout ratio is currently 40.20%.
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About Deere &
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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